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The Code, Your Lawyer, and Your Plan

You’ve fought a losing battle against rising debts and falling income. It’s time to surrender to the financial reality that you’ve resisted for so long. It’s time to declare personal bankruptcy. But what does that really mean? What are the rules of the road?


Personal bankruptcy is governed by a specific piece of federal legislation known as the Bankruptcy Code that Congress passed and the President signed into law. Among bankruptcy judges and professionals, this important statute is merely referred to as “the Code.” As they crafted the Code, members of Congress aimed to make a law that was fair to both debtors and creditors. Most practitioners, jurists, and scholars agree that Congress succeeded in making a fair bankruptcy system. However, this fairness came at a price.


Complexity was the price of the Bankruptcy Code’s fairness. And, unfortunately, debtors and creditors alike must bear this cost. While it’s true that litigants may represent themselves at bankruptcy proceedings (i.e. pro se debtors), the Code’s complexity and the high stakes that a financial reorganization represents makes self-representation a risky decision. In the face of the Code’s complexity, you may want an attorney who specializes in the nuances of this area of the law. Fortunately, the attorneys at Fears Nachawati are prepared to handle the legal and practical challenges that your case represents.


Of course, personal bankruptcy isn’t just about the Code. Like the rules of American football, the rules of bankruptcy are nothing without referees to enforce those rules and adjudicate disputes arising between parties. (Interestingly, although bankruptcy judges are now considered judges, from 1898 to 1978 these judges were known as “referees.”) Another important contribution that knowledgeable bankruptcy counsel provides is an appreciation for how a bankruptcy judge will interpret and enforce the Code.


If you have questions, you’re like most struggling debtors. What’s important is that you find out the answers to those questions. Time can have a significant impact on your family’s personal finances. Don’t let time run out on your ability to take action. Start learning what you need to know by contacting our bankruptcy professionals today. We can help you design a plan of reorganization that works for you and your loved ones.


The Code, Your Lawyer, and Your Plan